Investing.com — The S&P 500 closed at record highs Tuesday, led by energy stocks and weakness in Treasury yields as investors awaited the Federal Reserve decision due Wednesday.
At 16:00 ET (4:13 GMT), the gained 0.6% to notch a closing record of 5,178.48.The added 0.4%, and the rose 320 points, or 0.8%.
Fed meeting kicks off amid worries over hawkish message
The Fed’s two-day meeting kicked off Tuesday, but with a unchanged decision on rates expected, investors wary that the Fed may signal fewer rate cuts this year following a recent bout of hotter-than-expected inflation data.
Data released over the last couple of weeks has shown that U.S. inflation has remained above the central bank’s 2% medium-term target.
An updated Summary of Economic Projections “could show a reduced expectation for rate cuts this year relative to three predicted in the December,” Stifel said Tuesday.
Despite fears about a less dovish Fed,…
